Dan got a lot of good experience with crowdfuning via PTS/AGS and did his homework on how to launch the Steem chain to minimize regulatory risk while maximizing stake distribution to partcipants motivated to help Steemit succeed rather than just profiting from mining and dumping ala Protoshares. My only gripe with Steemit is the conspicuous absence of a share drop on the Bitshares community, but overall I believe the roll out was balanced and well thought out. I really think the only people whining about a scam are miners that feel entitled to mine and dump every new coin that comes along.